ATO Guidance: Fuel tax credits
The ATO has updated PCG 2016/3 to clarify that its practical compliance method for non-business fuel tax credit claimants will only apply where a rate change occurs during a claim period solely because of indexation. The update also sets out how the ATO’s compliance method interacts with the 50% reduction in excise duty rates from 30 March 2022 to 28 September 2022 in accordance with the 2022-23 Federal Budget.
The ATO has issued the following class rulings:
- CR 2022/43 – Class Ltd – Partial scrip for scrip roll-over;
- CR 2022/44 – AVA Risk Group Ltd – Return of capital; and
- CR 2022/45 – Class Ltd – Employee share scheme – Shares disposed of under scheme of arrangement.